a man retires with

$270,7101

Narrowing the retirement savings gapWomen have less retirement savings than men

While more women than men retire with no super at all

It’s not just the gender pay gap

Single women have more to consider

Three women, three super balances

On average:a woman retires with

$157,050

or 72% more than women

of women retire with no super of men retire with no super1

Single females super component of retirement income is

lower than single males

1 in 4 womenwill have enough super to reach ASFA’s ‘Comfortable’ standard for retirement income,

$545,0002

of primary carers for aging parents are women4 of women are working part-time5

70% 46%

Plus, women live longer than men!

Let’s look at three di�erent women, aged 32-42 and see how taking a break to care for children and working flexibly impacts their retirement savings.6

Retirement age: 67

Female working flexibly for 10 years, for the equivalent of 3 days a week;

Balance at retirement = $558,034Life expectancy: 87*Savings run out: age 83 approx (4 years early)

Not taking any time-out.

Balance at retirement = $640,756Life expectancy: 87*Savings run out: age 87 approx (savings last to life expectancy)

Female taking a 10 year break from the workplace to look after children full time;

Balance at retirement = $462,196Life expectancy: 87*Savings run out: age 80 approx (7 years early)

1 ‘Superannuation account balances by age and gender’, Association of Superannuation Funds of Australia, October 20172 ‘ASFA Retirement Standard’, Association of Superannuation Funds of Australia – June quarter 20173 'The need to look deeper on the gender gap’, Willis Towers Watson, 20164 Australian Bureau of Statistics, Caring in the Community, Australia, Catalogue no. 4436.0 (2012), p5.5 Workplace gender equality agency, February 2017: ABS (2017), Labour Force, Australia, January 2017, cat. no. 6202.06 Source: NAB Asset Management Services Limited. For illustrative purposes only. Amounts are shown in today’s dollars: the person starts working at age 22 and retires at 67. Initial salary $50,000 pa, 1% salary increase pa. Salary increases during the time o� work. 9.5% pa of salary contributed to super. Retirement income is $47,000 pa. The assumed fund average return is 4.5% pa. When on leave for 10 years, no super is contributed. When working flexibly, salary is calculated at 60%, during ages 32-42. No Age Pension received. Insurance premiums haven't been taken into account, super taxes have. Other investments are not taken into account. Do not rely on this chart to make decisions about your retirement.* The life expectancy of a 67 year old woman today is 87 years. Source: Based on Australian Bureau of Statistics data, Life Tables, States, Territories and Australia, 2014-2016. Catalogue no. 3302.0.55.001

Important informationThis information is provided by NULIS Nominees (Australia) Limited, ABN 80 008 515 633, AFSL 236465, a member of the National Australia Bank Limited (ABN 12 004 044 937, AFSL 230686) group of companies. An investment with NULIS does not represent a deposit or liability of, and is not guaranteed by, the NAB Group. The information in this communication may constitute general advice. It has been prepared without taking account of individual objectives, financial situation or needs and because of that you should, before acting on the advice, consider the appropriateness of the advice having regard to your personal objectives, financial situation and needs. NULIS believes that the information contained in this communication is correct and that any estimates, opinions, conclusions or recommendations are reasonably held or made as at the time of compilation. However, no warranty is made as to the accuracy or reliability of this information (which may change without notice).Case studies in this publication are for illustration purposes only. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.

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